Enterprise Group Announces Results for First Quarter 2024
Enterprise Group Announces Results for First Quarter 2024
St. Albert, Alberta--(Newsfile Corp. - May 9, 2024) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the "Company" or "Enterprise"). Enterprise, a consolidator of energy services (including specialized equipment rental to the energy/resource sector), emphasizing technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for small to Tier One resource clients, is pleased to announce its Q1 2024 results.
艾伯塔省聖艾伯特--(Newsfile Corp.,2024 年 5 月 9 日)-企業集團有限公司(多倫多證券交易所股票代碼:E)(OTCQB:ETOLF)( “公司” 要麼 “企業”)。Enterprise是能源服務(包括向能源/資源行業租賃專業設備)的整合商,其重點是爲小型至一級資源客戶減輕、減少或消除二氧化碳和溫室氣體排放的技術,欣然宣佈其2024年第一季度業績。
OVERALL PERFORMANCE AND RESULTS OF OPERATIONS
總體業績和運營成果
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Three months March 31, 2024 |
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Three ended March 31, 2023 |
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Revenue | $ |
12,326,288 |
$ | 10,008,332 |
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Gross margin | $ |
6,896,344 |
56% | $ | 5,099,298 |
51% | ||||||
Adjusted EBITDA(1) | $ |
6,337,853 |
51% | $ | 4,392,685 |
44% | ||||||
Net income and comprehensive income | $ |
3,991,514 |
$ | 2,801,335 |
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Income per share - Basic | $ |
0.08 |
$ | 0.06 |
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Income per share - Diluted | $ |
0.07 |
$ | 0.06 |
|
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三個月 3月31日 2024 |
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三場比賽結束了 3月31日 2023 |
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收入 | $ |
12,326,288 |
$ | 10,008,332 |
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毛利率 | $ |
6,896,344 |
56% | $ | 5,099,298 |
51% | ||||||
調整後 EBITDA(1) | $ |
6,337,853 |
51% | $ | 4,392,685 |
44% | ||||||
淨收益和綜合收益 | $ |
3,991,514 |
$ | 2,801,335 |
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每股收益-基本 | $ |
0.08 |
$ | 0.06 |
||||||||
每股收益-攤薄 | $ |
0.07 |
$ | 0.06 |
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(1) Identified and defined under "Non-IFRS Measures".
(1) 在 “非國際財務報告準則指標” 下確定和定義。
During the first quarter, the Company was able to build upon the momentum from 2023. Market conditions were favourable for the energy sector, resulting in additional drilling, completion, and infrastructure projects. Also, the increasing demand for natural gas power generation systems indicates a shift towards lower emission alternatives. Overall, these factors contributed to the Company's strong results in the first quarter of 2024. Revenue for the three months ended March 31, 2024, was $12,326,288 compared to $10,008,332 in the prior period, an increase of $2,317,956 or 23%. Gross margin for the three months ended March 31, 2024, was $6,896,344 compared to $5,099,298 in the prior period, an increase of $1,797,046 or 35%. Adjusted EBITDA for the three months ended March 31, 2024, was $6,337,853 compared to $4,392,685 in the prior period, an increase of $ $1,945,168 or 44%. Increases in revenue, gross margin and EBITDA for the year, are reflective of increased customer activity in 2024 while maintaining the operating efficiencies of the Company.
For the three months ended March 31, 2024, the company generated cash flow from operations of $5,659,666 compared to $4,965,708 in the prior year. This change is consistent with the higher activity levels during the year and the growing demand for the natural gas power generation. The Company continues to utilize a combination of cash flow and debt to right-size and modernize its equipment fleet to meet customer demands. During the three months ended March 31, 2024, the Company acquired $4,547,987 of capital assets, primarily for natural gas power generation equipment and facilities, upgrading existing equipment, and meeting specific requests from customers. The Company continues to see its customers switching to natural gas as a cleaner and more efficient alternative to diesel, increasing the demand for natural gas generators and micro-grid packages. Also, the Company purchased land to expand operations and is in the process of constructing a new facility in Fort St. John, BC. The total cost of the project is an estimated $5 million, and the construction work commenced in February 2024. The Company is in the process of obtaining a construction mortgage to cover the building costs of the contract. The facility is estimated to be completed by the end of 2024.
On March 12, 2024, the Company closed a brokered private placement of 8,234,350 units issued at a price of $0.85 per unit for aggregate gross proceeds of $6,999,197. Each unit consists of one common share and one-half common share purchase warrant. Each warrant is exercisable to acquire an additional common share at an exercise price of $0.95 per share for a period of 24 months. Of the 8,234,350 units issued under prospectus exemptions, 5,882,350 units are not subject to resale restrictions and the remaining 2,352,000 units are subject to a hold period of 4 months from the date of issuance. In connection with the private placement, the broker received compensation of $419,952 plus 494,061 non-transferable broker options with each broker option consisting of one common share and one-half common share purchase warrant. Each broker option is exercisable to acquire an additional common share at an exercise price of $0.89 per share for a period of 24 months. Each warrant is exercisable to acquire an additional common share at an exercise price of $0.95 per share for a period of 24 months. The Company will use the net proceeds of the Offering to expand its fleet of rental equipment with an emphasis on low emission mobile power systems and for general corporate purposes. The exercise of all warrants will provide the company an additional $4,585,000. This private placement underscores the Company's commitment to efficiently manage capital while continuing to grow and meet customer demands.
During the three months ended March 31, 2024, the Company did not repurchase or cancel shares. Since the initiation of the share buyback program, the Company has purchased and cancelled 11,336,000 shares at a cost of $2,903,646 or $0.26 per share. These shares have a carrying value of $1.41 per share for a total of $15,970,630 which has been removed from the share capital account over the entire share buyback program. The Company renewed its bid on August 24, 2023, with a termination date of August 29, 2024, or such earlier time as the bid is completed or terminated at the option of the Company. As at March 31, 2024, the Company's book value is $0.88 per share. Additionally, the Company has available tax losses of $0.12 per share and is in the process of developing a consolidated tax plan to utilize those losses.
在第一季度,公司得以在2023年以來的勢頭基礎上再接再厲。市場條件有利於能源行業,導致更多的鑽探、完井和基礎設施項目。此外,對天然氣發電系統的需求不斷增加,表明了向低排放替代方案的轉變。總體而言,這些因素促成了公司在2024年第一季度的強勁業績。截至2024年3月31日的三個月,收入爲12,326,288美元,而前一時期爲10,008,332美元,增長了2317,956美元,增長了23%。截至2024年3月31日的三個月,毛利率爲6,896,344美元,而前一時期爲5,099,298美元,增長了1,797,046美元,增長了35%。截至2024年3月31日的三個月,調整後的息稅折舊攤銷前利潤爲6,337,853美元,而前一時期爲4,392,685美元,增長了1,945,168美元,增長了44%。全年收入、毛利率和息稅折舊攤銷前利潤的增長反映了2024年客戶活動的增加,同時保持了公司的運營效率。
在截至2024年3月31日的三個月中,該公司的運營現金流爲5,659,666美元,而去年同期爲4,965,708美元。這種變化與全年活動水平的提高以及對天然氣發電的需求不斷增長是一致的。該公司繼續利用現金流和債務的組合來調整其設備隊伍的規模和現代化改造,以滿足客戶的需求。在截至2024年3月31日的三個月中,公司收購了4,547,987美元的資本資產,主要用於天然氣發電設備和設施、升級現有設備以及滿足客戶的特定要求。該公司繼續看到其客戶改用天然氣作爲更清潔、更高效的柴油替代品,從而增加了對天然氣發電機和微電網套件的需求。此外,該公司還購買了土地以擴大業務,並正在不列顛哥倫比亞省聖約翰堡建造一座新設施。該項目的總成本估計爲500萬美元,施工於2024年2月開始。該公司正在申請建築抵押貸款,以支付合同的建築費用。該設施預計將於2024年底完工。
2024年3月12日,公司完成了經紀人發行的8,234,350個單位的私募配售,發行價格爲每單位0.85美元,總收益爲6,999,197美元。每個單位由一股普通股和一半的普通股購買權證組成。每份認股權證均可行使以每股0.95美元的行使價額外收購普通股,爲期24個月。在根據招股說明書豁免發行的8,234,350套單位中,有5,882,350套不受轉售限制,其餘2,352,000套自發行之日起的保留期爲4個月。在私募中,該經紀商獲得了419,952美元的薪酬,外加494,061份不可轉讓的經紀商期權,每個經紀人期權包括一股普通股和一半的普通股購買權證。每份經紀商期權均可行使以每股0.89美元的行使價額外收購一股普通股,爲期24個月。每份認股權證均可行使以每股0.95美元的行使價額外收購普通股,爲期24個月。該公司將使用本次發行的淨收益來擴大其租賃設備機隊,重點是低排放移動電源系統和用於一般公司用途。所有認股權證的行使將爲該公司額外提供4585,000美元。此次私募配售凸顯了公司對高效管理資本的承諾,同時繼續增長和滿足客戶需求。
在截至2024年3月31日的三個月中,公司沒有回購或取消股票。自股票回購計劃啓動以來,公司已購買並取消了11,336,000股股票,成本爲2,903,646美元,合每股0.26美元。這些股票的賬面價值爲每股1.41美元,總額爲15,970,630美元,在整個股票回購計劃中,已從股本賬戶中扣除。該公司於2023年8月24日續訂了出價,終止日期爲2024年8月29日,或在競標完成或由公司選擇終止的更早時間內。截至2024年3月31日,該公司的賬面價值爲每股0.88美元。此外,該公司的可用稅收虧損爲每股0.12美元,並且正在制定合併稅收計劃以利用這些虧損。
About Enterprise Group, Inc.
企業集團公司簡介
Enterprise Group, Inc is a consolidator of services-including specialized equipment rental to the energy/resource sector. The Company works with particular emphasis on systems and technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada. More information is available at the Company's website . Corporate filings can be found on . For questions or additional information, please contact:
Enterprise Group, Inc是一家服務整合商,包括向能源/資源行業提供專業設備租賃。該公司特別重視爲自己及其客戶減輕、減少或消除二氧化碳和溫室氣體排放的系統和技術。該公司爲在加拿大西部開展業務的本地一線資源公司和國際資源公司所熟知。更多信息可在公司的網站上找到。公司文件可以在上找到。如有問題或其他信息,請聯繫:
For questions or additional information, please contact:
Leonard Jaroszuk: President & CEO, or
Desmond O'Kell: Senior Vice-President
contact@enterprisegrp.ca
780-418-4400
如有問題或其他信息,請聯繫:
倫納德·雅羅斯祖克:總裁兼首席執行官,或
戴斯蒙德·奧凱爾:高級副總裁
contact@enterprisegrp.ca
780-418-4400
Forward Looking Information
前瞻性信息
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website ) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
本新聞稿中包含的某些陳述構成前瞻性信息。這些陳述與未來事件或公司的未來業績有關。使用 “可能”、“期望”、“相信”、“將”、“預期”、“估計” 等詞語以及與非歷史事實事項有關的類似表達和陳述,均旨在識別前瞻性信息,並基於公司當前對此類未來事件結果和時機的信念或假設。未來的實際結果可能存在重大差異。公司向證券監管機構提交的年度信息表和其他文件(可通過SEDAR網站訪問)描述了風險、重大假設和其他可能影響實際業績的因素,這些因素以引用方式納入此處。除非適用的證券法明確要求,否則公司不打算或沒有義務公開更新或修改任何前瞻性信息,無論這些信息是由於新信息、未來事件還是其他原因。
Non-IFRS Measures
非國際財務報告準則指標
The Company uses International Financial Reporting Standards ("IFRS"). EBITDAS is not a measure that has any standardized meaning prescribed by IFRS and is therefore referred to as a non-IFRS measure. This news release contains references to EBITDAS. This non-IFRS measure used by the Company may not be comparable to a similar measure used by other companies. Management believes that in addition to net income, EBITDAS is a useful supplemental measure as it provides an indication of the results generated by the Company's principal business activities prior to consideration of how those activities are financed or how the results are taxed. EBITDAS is calculated as net income excluding depreciation, amortization, interest, taxes and stock based compensation.
公司使用國際財務報告準則(“IFRS”)。息稅折舊攤銷前利潤不是國際財務報告準則規定的任何標準化含義的指標,因此被稱爲非國際財務報告準則衡量標準。本新聞稿包含對息稅折舊攤銷前利潤的引用。公司使用的這種非國際財務報告準則指標可能無法與其他公司使用的類似指標相提並論。管理層認爲,除淨收入外,息稅折舊攤銷前利潤是一項有用的補充衡量標準,因爲它在考慮如何爲這些活動提供資金或如何對業績徵稅之前,可以表明公司主要業務活動產生的業績。息稅折舊攤銷前利潤計算爲淨收入,不包括折舊、攤銷、利息、稅收和股票薪酬。